"A Study of Business Transformations in India"

In order to stay competitive in today’s cut-throat competition, a business transformation is necessary from time to time. There are different types of business transformations and it is the responsibility of top management to decide which type of business transformation is required in their organisation as per the current scenario. So, the top management and to some extent the middle-level management should have the requisite understanding of different types of transformations. This will help the organisation to adapt to the dynamic market and can increase its market share and expand its customer base. Business transformation is a collective term for making primary changes in the smooth running and operations of a business or organization. This is all about technology, processes, and personnel. These transformations lead to effective and efficient operations of a business and to be able to compete in the cutthroat competition. The present study highlights the different types of business transformations in India and abroad. The paper analyses the factors that drive the business transformations. The paper presents a few concrete suggestions for successful business transformations. The paper concluded with the fact that the key to successful business transformation is to identify new business opportunities, accept innovative technology, and rethink the present value prepositions. This will lead to the creation of profitable and innovative business organisation.